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Crosstex Energy, L.P. Message Board

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  • lner2512 lner2512 Jan 7, 2010 11:34 PM Flag

    Preferred getting 10% yield!

    This deal is similar to Buffett's investment in GE--it brings some credibility to a company in need of it as they try to refinance their way out of the onerous terms they were forced to agree with last February, and at a relatively modest cost, given their circumstances. The good part is Blackstone gaining a seat on the Board, which I believe could use the help getting out of this mess.

    No one should bet on the current IDR agreement surviving this transaction and/or the coming refinance intact.

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